Glenn: For the First Time, I Heard Ted Cruz Calculate

Following his interview with Senator Ted Cruz, Glenn shared his impression of the exchange on his radio program Monday.

"For the very first time, I heard Ted Cruz calculate. And when that happened, the whole thing fell apart for me," he said.

Glenn blamed himself for the inevitable letdown.

"It's my fault," Glenn said. "It's my fault for believing that men can actually be George Washington."

RELATED: Glenn Grills Ted Cruz on What It Means to ‘Vote Your Conscience’

He went on to share an idea that would sound "outrageous" to some.

"I am not here to fight for the saving of America. I am not here to fight for the saving of this land. I am not here to save the system that we have built. I am here and you are here --- we all are here --- for this time to save the idea of America," Glenn said.

Read below or listen to the full segment for answers to these principled questions:

• What is the idea of America?

• What reason should Senator Cruz have given for his decision?

• Should Glenn have supported Marco Rubio?

• Will the two major parties destroy the idea of America?

• Would Glenn still vote for Senator Cruz?

• Has the Republican Party become like PETA?

Listen to this segment from The Glenn Beck Program:

Below is a rush transcript of this segment, it might contain errors:

GLENN: For the first time -- and I'm sorry if that was too contentious for people.

STU: It's what we should do, right?

GLENN: And I will tell you, that's not what I expected, but there was something in there. And I'm not going to go into it. There is something there, where I have private conversations with people. And I know private -- I know what was said, and I know -- I know the story. And for the very first time, I heard Ted Cruz calculate. And when that happened, the whole thing fell apart for me. And it's my fault. It's my fault for believing that men can actually be George Washington. It's my fault.

I should have said, "You know who can win? You know who could beat Hillary Clinton? Marco Rubio. And I disagree with him on the Gang of Eight, and there's about 80 percent that I do agree with him on. And he's kind of a politician, but he's a different kind of politician: He's a young politician. He's a Hispanic. He can win. Let's go for it!" Instead, I said, "Let's find a truly honorable man." And that will always let you down. It will always let you down.

STU: Yes. I kept thinking this weekend of like, you know, we keep -- there's a lesson that we're supposed to learn, I believe a pretty important person once talked about it, in that: Don't put your faith in man. That's not the right place.

GLENN: It's not the place. It's not the place.

PAT: Well, and but we thought we were putting our faith in the principles that he held.

GLENN: Yes. Yes.

PAT: And -- and -- because he led us to believe -- and he did it through his work, that he was going to be a man of his principle. Because he was.

GLENN: Here's how he could have -- here's how he could have addressed this today.

PAT: "You know what, guys, I caved. I need donors. They all left. I caved." Just tell the truth.

GLENN: Yes. Yeah. "Guys, here's the thing: I said -- he's reframing what he did in Cleveland.

PAT: Yeah, you can't say what you're saying now and what you said in Cleveland are the same thing.

GLENN: They're not.

PAT: Everybody knows they're not.

GLENN: One is, vote for Donald Trump. And one is, vote for your conscience. There's a clear difference.

PAT: Big time.

GLENN: But he's recasting that now.

PAT: Yeah.

GLENN: And, yes, was he trying to force Donald Trump and the G.O.P. to come closer? Yeah, I think he was.

PAT: Even if that's what he was trying to do, what have they done to get closer? Nothing! Nothing.

GLENN: So he said -- so he could have come on and said --

PAT: I don't buy it.

GLENN: -- "Look, guys, here's the thing: My supporters are yelling at me." And I know that, because so are mine.

PAT: Uh-huh.

GLENN: My donors, who were all in with the G.O.P., they're all saying, "I'll never fund you -- I won't fund you for the Senate. I won't fund you for the run in 2020." And I have to make a decision. So the question is: Do I completely shut myself out of this game, or do I play the game as much as I possibly can? Look, there's nobody that has held out longer than me, he should have said.

STU: It wouldn't be accurate, but it would be close to that.

GLENN: It wouldn't be accurate, yes. They're down to 12.

You know, if you count us and Ben Shapiro and everybody else, they're down to 12.

STU: Kasich is a candidate --

GLENN: Yes. Kasich!

PAT: Ben Sasse.

GLENN: Ben Sasse.

STU: Ben Sasse. Mike Lee. And when's the last time anyone asked Ben Sasse about this? He was able to avoid it completely because he was honest and said what he believed early on.

GLENN: Yes.

STU: So people stopped bugging him about it.

GLENN: Yes. So, anyway -- and people would have stopped bugging him about this.

So, anyway, if he would have just come on and said that, I would have had a lot easier time. But to become the politician --

STU: Right.

GLENN: -- is -- is disappointing. Really disappointing.

STU: Well, two things --

GLENN: But I don't want to get into a situation to where -- I think Ted Cruz is still a good man. I I think he's a good man. I do think he prayed on this. And I can't argue with him. I think everybody's back is up against the wall. And so I'm not going to condemn him. He is, still, I believe, a good man. He is just a politician, first. I've never put him into the category of politician, and that's my fault. He is a politician.

STU: Right. And that's not a condemnation of him, it's a condemnation of our decision-making process, I suppose.

GLENN: Yes, yes.

STU: And so two quick things, positive on Cruz: Number one, he's got the balls to come in here and face this.

GLENN: Not a lot of people would do that.

STU: Not a lot of people would do that.

Number two: He'll still be one of the best senators in the Senate. You know, we had this same sort of issue with Rand Paul when he endorsed Mitch McConnell.

GLENN: Yes.

STU: And we gave him a really hard time about that, and it's forever changed the general way we think about him.

GLENN: Yes.

STU: He's a good senator. He's right on almost everything --

GLENN: And I still support him. I'd still vote for him.

STU: I still support him. Right.

GLENN: But I know who he is.

STU: I don't separate him from the pack. He's just a good, quality conservative senator with good Libertarian leanings. And he's usually right. And that's what I'll think about Ted Cruz in the future.

GLENN: Yes, yes. Yes. Yes.

STU: He's Rand Paul, and that's okay. He's still going to be one of the best senators.

GLENN: Yes. Yes.

STU: But this idea that now he's bringing to us the binary choice argument --

PAT: I hate that.

STU: -- is so --

PAT: That drove me nuts more than just about anything in that conversation.

STU: Oh, just about anything. It's so ridiculous.

PAT: It's a binary choice? No, I thought it was vote your conscience.

STU: Conscience and principles.

PAT: Those are mutually exclusive. I'm sorry.

STU: And if you haven't heard the binary choice argument before --

GLENN: Everybody has.

STU: Well, but just to review.

GLENN: Yeah.

STU: Basically, Hillary Clinton is going to be bad on 100 percent of the things. We know she's a liberal and she's nuts. On the other side, you're going to have someone who might be good on some things. Maybe he's at least saying he's for a flat tax and the IRS --

PAT: And he gives us no indication to think he will be better on anything.

STU: Well, let me finish. Maybe he's better for more localized education. Maybe he's better on campaign reform term limits. Maybe he's better on foreign policy that's a little bit more sensible. Maybe he's better on monetary policy. You know, better on the fed. Maybe he would give us better Supreme Court justices.

What I just described to you is straight off the David Duke website. That is his platform. Those things are his platform. So if we had a binary choice between David Duke -- who would be better than taxes than Hillary Clinton -- he would be better on localized education than Hillary Clinton. Are we to cross the line and vote for David Duke because, "Well, he's better on X, Y, and Z?" And to me, that's why it's not a binary choice.

GLENN: Binary choices as we said, last hour, lead you to a kakistocracy.

STU: Kakistocracy.

GLENN: Say it.

STU: No.

GLENN: You can't, can you? Nobody can.

STU: The point is --

GLENN: But it is a government run by the worst people of society. Because everybody keeps saying, "Well, it's the lesser of two evils." And eventually you get down to Pol Pot or Mao.

STU: Right.

GLENN: I mean, eventually you get there.

Now, we're not anywhere close to that.

STU: Right. And obviously --

GLENN: But you are on that road.

STU: Obviously, Donald Trump is not as bad as David Duke.

GLENN: No.

STU: But the point is, there has to be a line of principle. And obviously Cruz is saying here that Trump doesn't violate that line. Because I think every mainstream Trump supporter would say, "I'm not going to vote for David Duke in that scenario."

GLENN: Correct.

STU: However, every argument they make about Donald Trump could be applied to David Duke.

GLENN: Yes.

STU: You could get anyone that isn't Hillary Clinton, you could apply these arguments to.

GLENN: See, this is the problem: The problem is we have divided ourselves in teams, and it doesn't matter if your team is inflating the ball or not. If the other side is inflating the ball, you cry bloody murder. If your side is inflating the ball, it doesn't matter. That's the problem. We're all wearing jerseys, it doesn't matter what is happening anymore. I'm for my team.

This is -- this is exactly what our Founders warned us about. George Washington was clear. Thomas Jefferson was clear. Adams was clear. They were all clear!

This is the end of the republic if you just play teams. And that's the problem. We're playing teams.

Look, I want you to listen very carefully to me because this is going to sound pretty outrageous: I am not here to fight for the -- for the saving of America. I am not here to fight for the saving of this land. I am not here to save the -- the -- the -- the -- the system that we have built. I am here and you are here -- we all are here for this time to save the idea of America.

America is no more than that: an idea, that all men are created equal and endowed by their Creator with certain inalienable rights. And among them life, liberty, and the pursuit of happiness. That you have charge over your own life and you only answer to God, and God gives you those rights, and you give some of those rights to the government for protection. And the minute that that government begins to infringe on any of those rights, it is not just your -- not just your willingness, it is your duty to overthrow anyone who would take those rights away.

Those rights are what have us say, "I can do this. I can build a better mousetrap. I could be president. I could build a rocket and go to Mars. I can be left alone. I can participate. I can not participate." It's an idea that had never, ever happened before.

And right now, what we are arguing about is the -- is the destruction of our banking system. The destruction of our two-party system. The destruction of our capital. The destruction of law and order, whatever the hell that even means anymore. The destruction of our culture. The destruction of our churches, whatever the hell that means anymore.

I don't care if my children are more rich or less rich than me. I don't care. I don't care.

What I do care is that my children are free to be able to chart their own course, free to be able to work or not work and starve. My children have a right to worship in the way they see fit and to move as their conscience tells them to move.

Right now, we have become PETA. Shame on all of us. Why not -- just if you won't vote for Hillary our you won't vote for Trump, why not just cover me in a bucket of blood? Why not just shame me in the public square? Why not run them out of business? They're climate deniers!

There is no difference between the two teams anymore. Oh, sure, one's for a little lower taxes. One is the for border, one is not. One is for international rule, one is for national rule.

Which one is for the idea that all men are created equal, that all men have a right to pursue their own happiness and make their own goddamn decision? Which one? Which one?

I contend neither of them. And so we will just soak each other in buckets of blood. We'll be a happy little bumper sticker community that shames one another into making sure you walk in goose-step with all the other Hillary supporters or walk in goose-step with all the other Trump supporters. Because she's going to mean the destruction of America. No, no, says the Hillary supporter, you must vote for us because he means the destruction of America.

I contend they both mean the destruction of the idea.

[break]

GLENN: So I apologize for my outburst in language. I don't apologize for the thoughts behind it. But sometimes, when you're doing four hours a day live, that's what happens. Welcome to the program. Welcome to real life.

When we come back, next hour, the debates.

STU: Oh, good.

Glenn created "The Senate Fails to Condemn INFANTICIDE" in response to the Senate not passing Nebraska Senator Ben Sasses' bill banning infanticide early this year. In an effort to help support pro-life charities, Glenn first posted this for sale on eBay before being banned multiple times before we finally had enough and put it up for sale on bidpal.net.

At the time of this post, the bid was up to $4,700 — but we can do better than that. Please help us raise money for a good cause, you don't even have to display it anywhere in your home, you can just keep it in storage or something! If you want this priceless piece created by one of the most influential people in the world of art, place your bids here.

Can you remember the economic crisis of 2008 and how you felt when the news broke that Lehman Brothers had collapsed? I have found an economic threat that everyone needs to be aware of, so you can prepare yourself in case we see another 2008 type collapse. I am going to present the evidence to you and I urge you to verify everything and to form your own opinion.

What is that threat?

It is a bank called Deutsche Bank. They are by far the most dominant bank in Germany which is the world's fourth-largest economy. In 2018 they had €2.08 Trillion worth of assets and the second-placed bank (DZ Bank) had €506 Billion worth of assets. To show you how dominant this bank is, they have more assets than the 2nd, 3rd, 4th, 5th and 6th sized banks combined.
When we review a business there are three key parts to analysis:

  • Market sentiment
  • Business numbers
  • Technical Analysis

Market Sentiment

Deutsche Bank has a long history of potential scandals including going all the way back to World War 2 and dealing in Nazi gold. Below are five recent stories which have increased the negative sentiment around Deutsche Bank.

  1. In 2007, they purchased a portfolio of loans worth $7.8 billion and purchased insurance from Warren Buffets Company. It was discovered they did not set aside enough capital to cover any potential losses. Over the course of the ten years, they lost $1.6 billion, and when they sold the loan they did not update their financial statements to include the big loss
  2. The Panama Papers are an ongoing investigation looking for many things including offshore tax havens. These investigations have resulted in several heads of state resigning including in Iceland and Pakistan. Last November, 170 police raided 6 different offices in Frankfurt looking for evidence of money laundering.
  3. Estonia is a small country in Eastern Europe. It has a population of 1.3 million people and a GDP of €26 billion. In January, it was discovered Deutsche Bank got involved with a Danish bank called Danke Bank and processed over $230 billion worth of cross country payments (including from Soviet Russia) through one bank in Estonia.
  4. There have been rumors of issues with Deutsche for a while now and one of the solutions put forth was a merger with a bank called CommerzBank. The leaders of both companies met and they even got support from politicians. In April, news broke that the merger talks had failed because over worries the risks and costs would be too great.
  5. Last week in France, Investment banking boss Garth Ritchie and others were arrested in France over illicit tax transactions.

Business Numbers

Deutsche Bank is already struggling as they are losing staff, losing market share, and bonuses are expected to be down at least 10% and further rounds of cost-cutting to come. Now imagine the impact if business costs start going up.

The banking industry works in a very simple way. They raise funds through large bonds at low-interest rates and then sell those funds to business and individuals thru products like loans and credit cards at a higher interest rate which results in a potential profit.

Earlier this year, Deutsche Bank tried raising money through several bonds. They paid 180bp (basis points) on a two-year bond and 230bp on a seven-year bond. Let me put this in context for you. There is a small bank in Spain called Caixabank which paid 225bp on a five-year bond and one of the larger banks in Spain, BBVA paid 130bp on a five-year bond.

  • How and why is a small bank in Spain getting a better deal on bonds than a huge bank in Germany?
  • Why is a large bank in Spain getting a bond 100bp cheaper than a German bank?
  • What does the market know that we do not?

Stock Price

Deutsche is also missing revenue projections which further hurt the business ability to survive and prosper. As you can imagine all of this news has a deep and lasting impact on its stock price which is in deep trouble. Before I share the stock price, I need to put this into the context of the market and the industry compared to the big economic crash of 2008. Below you will see a chart of some banking stocks from around the world with their peak price prior to the 2008 crash, the low of the 2008 recession and the price today:

As you can see from the above chart the banks in America have recovered from the 2008 recession by anywhere up 375% and JP Morgan has not only recovered its price in full but is constantly setting new high's. Ireland went bankrupt and had to be bailed out by the EU/IMF following the 2008 crash and even our national bank has more than doubled its price since 2008. The worst performing bank I could find was Societe Generale which has issues but is still hovering around its 2008 low price levels.

Now let's put that into the context of Deutsche Bank. Not only has the stock not rebounded but it is over 65% below its 2008 low at $6.75.

Technical Analysis

When you are dealing with the stock market, you also have people who study pricing through technical analysis. Experts look at things like FIB sequences, trend lines, and support levels. Support levels are a key metric for a stock failing because are looking to find where it will find support and potentially bounce higher.

We are very close to a key support level ($6.40) and if the price goes below this level, there is no saying exactly how low the price could go. At least one company expects Deutsche to fall below this support level, as several weeks ago UBS downgraded the stock to a sell order. This news was compounded last Friday when rating agency Fitch, downgraded their credit rating to BBB or two levels above JUNK status.

Other Information

I know you are likely reading this and thinking "this bank must have smart people in charge and surely they have a plan, right?" I am sure there is a plan and while they have kept their cards close to their chest, they have spoken in the past about the areas they foresee having growth for the company – they include business in Saudi Arabia, UAE, and Egypt. Do they strike you as countries which are stable and will offer steady and reliable growth? Do you have to think really hard to imagine how this could go potentially very wrong?

Questions

I believe there is at least a solid case Deutsche is in a LOT of trouble. So what are possible scenarios for the future? I will lay out the key questions below but I must stress that it's impossible to say for sure what exactly will happen. One of the key numbers to remember here is they have roughly €50 billion worth of derivatives.

  • How likely is it that the bank can turn things around and survive?
  • How likely is it the bank continues to run into trouble, its stock price fails and eventually fails?
  • If you think it is likely it will fail, the question becomes what will the fallout be? Who will be affected?
  • Will they be bailed out?
  • If so, by whom? The German government, ECB, IMF, the Federal Reserve?
  • What will the German government think? Some members recently spoke out saying they would block public money for the proposed merger? Will they block funds if it failed?
  • Will other banks be exposed and affected? Will they have to take losses?
  • Will those losses be spread around or will one or more bank be mainly affect?
  • Will this affect the sentiment of the banking sector and cause a panic?
  • If there are issues and it starts affecting the stock prices, what will be the impact on other industries?

Last Question

The last question revolves solely around the banks and the regulators? How secure are the other banks? We all hear about how banks are now put through "stress tests" but how much trust do you put in those results? How much trust do you have in the regulators?

I know this may make me sound like a conspiracy theorist to some but it's an honest question. The Fed is on public record saying they want to keep this economy strong as long as possible. If a bank did not perform strongly in a stress test or even barely failed one, do you think they would report it?

Can you imagine the pressure that body would come under to stay silent? Can you imagine the rhetoric they would face with questions like, "Are you really going to fail one bank? Do you know how many people will lose their jobs if you do that?" Am I saying this is happening? No, but can you really rule it out 100% as a possibility?

I urge you to ponder on these questions, do your own research and find YOUR answers.

Update: The most freaquently asked question I have received from this column / show is how much time do we have to prepare. This is an impossible question to answer, as it could fail tomorrow, next week or might be next year. However I want to provide you a potential date for your diary – July 24th. That is when Deutsche will release their next earnings report and if it comes in below expectations, it could cause a further drop in price casting more doubt over the future viability of the bank.

Please support Jonathon's weekly podcast which is exclusive to the Blaze Media and available for FREE. He offers a unique perspective by promoting America's Founding Principles and brings every issue back to a set of core principles which are always based around the laws of nature. You can find links to his show by clicking here or by searching for Freedoms Disciple on your favorite audio platform.

Survey: Where do you stand on these conspiracy theories?

Thought Catalog / Unsplash

Have you seen this survey on the most-believed conspiracy theories in America?

It's no surprise the survey has been getting so much attention. The results are actually a pretty disturbing.

Infographic: Belief in Conspiracy Theories in the United States | Statista

I decided to put together a quick survey of my own, with slightly different wording.

Up-vote the ones you agree with and down-vote the ones you disagree with.

I believe Lee Harvey Oswald killed JFK alone. However, I would not be surprised to find out the government sealed evidence that others were involved.

If by "deep state" you mean long-time Washington power brokers who are used to calling the shots and now feel threatened by Donald Trump not listening to their advice or council — yes, I do believe that many people like that are working against him and his administration.

Whether alien bodies are in Area 51 or not, I do believe the government knows more about UFOs than they have told us.

I do not believe the U.S. government was involved in 9/11, but as we know, NSA advisor Sandy Berger was caught destroying documents from the national archives related to both Bush and Clinton. All U.S. administrations have been to close to the Saudis, and the Saudis were involved in 9/11 at some level.

I believe the climate is always changing — it's natural. I would be willing to accept that man MAY play a role in this. But I do not believe in the solutions currently being discussed, nor do I believe the intention of most political activists are pure.

Any talk of the Illuminati provides the true dangers to man's freedom — like very powerful NGOS and men like George Soros — a perfect cover.

The U.S. government has done some horrible experiments on people and land — I also suspect they will do more things in the future. But I do not believe in the systematic spraying of chemicals using chemtrails.

The moon landing was real, but I see a time coming when people will not be able to trust their eyes due to deep fakes.

What do you think?

Let me know in the comments section below.